A key measure of home-purchase applications rose to the highest level in five weeks as consumer demand roared back to life amid a recent drop in mortgage rates.

The Mortgage Bankers Association’s (MBA) index of mortgage applications rose 2.8% last week, compared with the previous week, according to new data published Wednesday. It marked the second straight week of gains.

The data also showed that the average rate on the popular 30-year loan held steady at 7.61% — a notable drop from just three weeks ago, when rates hovered around 7.91%.

The decline in rates helped to spur more housing demand, with applications for a mortgage to purchase a home also rising 3% for the week. Still, application volume remains down 12% compared with the same time last year.